Freja eID Group
Climate Impact & Sustainability Data (2020-07 to 2020-09, 2021-07 to 2021-09)
Reporting Period: 2020-07 to 2020-09
Environmental Metrics
ESG Focus Areas
- Digital identity security
- Digitalization
- Data privacy
- Exclusion of individuals
- Governance
Social Achievements
- Freja eID is Sweden’s only mobile e-ID approved for the governmental quality mark Svensk e-legitimation by DIGG.
- Freja eID offers an inclusive mobile eID in Sweden not reliant on personal identity numbers.
Climate Goals & Targets
Environmental Challenges
- Potential misuse of eID system data.
- Technical failures or data breaches.
- Exclusion of individuals without sufficient technological access.
- Changes to directives and legislation for eIDs.
- Changing customer behavior rendering mobile phone identification obsolete.
- Lack of user-base growth or customer acceptance of Freja eID’s technology.
- Delayed EBIT-breakeven.
- Escalating pricing pressure.
- Technology or security breaches.
Mitigation Strategies
- Verisec offers the only inclusive mobile eID in Sweden that is not reliant on personal identity numbers.
- Verisec has a dynamic history of adapting its IT security solutions to meet customer demand and transition its offering.
- Focus on adding new relying parties and expanding the value for new users to the Freja eID platform.
- Flexible pricing model for Freja eID allows more efficient budgeting and cost control.
Supply Chain Management
Climate-Related Risks & Opportunities
Sustainable Products & Innovation
- Freja eID
Reporting Period: 2021-07 to 2021-09
Environmental Metrics
ESG Focus Areas
- Digitalization
- Security
- Efficiency
- Cost Reduction
Social Achievements
- Freja eID offers the only inclusive mobile eID in Sweden that is not reliant on personal identity numbers.
Governance Achievements
- Milestone reached as Sweden’s pre-registration of eIDs to eIDAS was approved. This allows Swedish eIDs to expand operations to other European countries.
Climate Goals & Targets
Environmental Challenges
- Potential misuse without proper control.
- Technical failures or data breaches.
- Exclusion of individuals.
- The divestment of Freja eID’s Freja UP and HSM distributor business to a member of the management team could hurt its ESG assessment from a governance perspective.
- Lack of user-base growth or customer acceptance of Freja eID’s technology.
- Delayed EBIT-breakeven would raise the risk of recapitalisation.
- Escalating pricing pressure (per eID transaction) might not be offset by strong volume growth, which could hurt Freja eID’s top-line growth.
- Technology or security breaches could destroy user confidence in the business and create a significant headwind to growth.
Mitigation Strategies
- Freja eID has a dynamic history of adapting its IT security solutions to meet customer demand and transition its offering.